Wrap Text
Orion Settles Final Acquisition Consideration for Okiep Copper Project
Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
Orion Settles Final Acquisition Consideration for Okiep Copper Project
Settlement of Final Acquisition Consideration completes the acquisition of the Okiep Copper Project
(OCP) in South Africa's Northern Cape region.
Remaining mineral rights for the BCC and NCC portions of the OCP Transaction granted by the DMPR and
will be lodged for registration in the name of New Okiep Exploration.
Exploration and drilling programs currently underway across the OCP to fulfil exploration expenditure
obligations due by November 2026.
Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) is pleased to advise that, following satisfaction of the final
suspensive conditions for the Okiep Copper Project (OCP) Transaction – including receipt of exchange control
approval from the Foreign Surveillance Department of the South African Reserve Bank – settlement of the Final
Acquisition Consideration for Orion's acquisition of a controlling interest in the OCP, located in the Northern Cape
Province of South Africa, is scheduled to occur by 19 March 2026.
As previously announced (refer ASX/JSE release 2 August 2021), Orion entered into definitive agreements to
acquire the mineral rights and associated assets held by Southern African Tantalum Mining (Pty) Ltd (SAFTA),
Nababeep Copper Company (Pty) Ltd (NCC) and Bulletrap Copper Co (Pty) Ltd (BCC) through its subsidiary
companies, New Okiep Mining Company (Pty) Ltd and New Okiep Exploration Company (Pty) Ltd (New Okiep
Exploration) (OCP Transaction). Settlement of the consideration for the first phase of the OCP Transaction was
completed in May 2024 (refer ASX/JSE releases 17 April 2024 and 6 May 2024).
Final Acquisition Consideration
The remaining consideration payable by Orion and its subsidiary, Area Metals Holdings No 6 (Pty) Ltd (AMH6), totals
approximately:
• ZAR2.30 million (~$195,0001) in cash; and
• ZAR12.44 million (~$1.05 million) to be satisfied through the issue of 71.91 million fully-paid ordinary Orion
shares,
(together, the Final Acquisition Consideration).
In addition, Orion's remaining commitment under the OCP Transaction is to undertake approximately ZAR6.35
million (~$0.54 million) of exploration expenditure on the mineral projects acquired from BCC and NCC by
30 November 2026. Exploration and drilling programs are currently underway at the OCP.
Under the terms of the OCP Transaction, the vendors are entitled to an agterskot (conditional deferred
consideration). The agterskot will be calculated on the basis summarised in Orion's ASX/JSE release dated 17 April
2024.
1
Based on the AUD:ZAR exchange rate of 11.81 as at 16 March 2026.
Next Steps
The remaining mineral rights relating to the BCC and NCC portions of the OCP Transaction have now been granted
by the South African Department of Mineral Resources and Petroleum (DMPR) and will be lodged for registration
in the name of New Okiep Exploration in due course. The remaining Prospecting Rights in respect of the mineral
project acquired from SAFTA remain subject to ongoing grant processes.
Orion's Managing Director and CEO, Tony Lennox, commented:
"Settlement of the final acquisition consideration is an important milestone for Orion, bringing to completion a
transaction that commenced in 2021. We are committed to completing the remaining exploration and drilling
programs by November 2026 and are highly encouraged by the significant exploration potential across the Okiep
district. This prospectivity has been further validated by Orion's selection for the 2026 BHP Xplor accelerator
program, as announced on 2 February 2026."
For and on behalf of the Board.
Tony Lennox
Managing Director & CEO
18 March 2026
ENQUIRIES
Investors Media JSE Sponsor
Avishkar Nagaser Nicholas Read Monique Martinez
Executive: Corporate Communications Read Corporate, Australia Merchantec Capital
and Investor Relations
T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: monique.martinez@merchantec.com
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and results,
capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or may be
based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.
These forward-looking statements are based on management's expectations and beliefs concerning future events. Forward-
looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Orion. Actual results and developments may vary materially from those
expressed in this release. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-
looking statements. Orion makes no undertaking to subsequently update or revise the forward-looking statements made in this
release to reflect events or circumstances after the date of this release. All information in respect of Exploration Results and
other technical information should be read in conjunction with Competent Person Statements in this release (where
applicable). To the maximum extent permitted by law, Orion and any of its related bodies corporate and affiliates and their
officers, employees, agents, associates and advisers:
• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in
expectations or assumptions;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the
information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or
implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
negligence).
2
Date: 18-03-2026 08:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
